About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

EDM Council Launches Cloud Data Management Work Group

Subscribe to our newsletter

Data management trade association the EDM Council this week launched the Cloud Data Management Capabilities (CDMC) Best Practices Work Group, with participation from players including Amazon Web Services (AWS), Google Cloud, IBM Cloud, and Microsoft Azure, as well as over 20 prominent financial industry firms. Co-chaired by Morgan Stanley and Refinitiv, project management is provided by Capco.

Cloud implementations typically face a common series of complex data, technology, operational and control challenges; while the industry also still lacks a common end-to-end cloud data management best practice framework. The group is therefore tasked with developing an open source CDMC Best Practice Framework to accelerate Cloud adoption and automate the associated controls. The framework will be based upon the EDM Council’s Data Management Capability Assessment Model (DCAM), a formal framework used to assess a firm’s data management capabilities through a consistent scoring model that has already been adopted by 60% of financial organizations globally that use data management frameworks.

“We’re experiencing a transformational moment in data management. Industry is rapidly evolving the need to securely access and extract value from exponential volumes of data via the Cloud,” says John Bottega, President, EDM Council. “It’s imperative that firms implement data management best practices in their cloud strategies.”

While the initiative is currently focused on the financial services sector, it will expand cross-industry to help firms in multiple verticals to navigate the growing complexity of cloud adoption. Data security and privacy rules have become an even greater focus worldwide as the COVID-19 pandemic has forced firms to work remotely and reassess business strategies. This has increased cost and margin pressures, driving companies to accelerate cloud adoption and leverage new data management practices.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

The Year in Data: 2025’s Biggest Trends and Developments

The past 12 months saw breakneck developments in how firms applied artificial intelligence. AI began to change from a mere tool to an integral part of capital markets operations. The year also saw data services providers launch multiple products for the growing private markets investment sector. Data Management Insight spoke to leaders in our industry...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

Data Lineage Handbook

Data lineage has become a critical concern for data managers in capital markets as it is key to both regulatory compliance and business opportunity. The regulatory requirement for data lineage kicked in with BCBS 239 in 2016 and has since been extended to many other regulations that oblige firms to provide transparency and a data...